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5 Lessons You Can Learn from Entrepreneur Chinedu Echeruo, Founder of HopStop | Online City Transit Guide recently acquired by Apple

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Chinedu_EcheruoIt’s one of the buzz tech stories of the week! Popular Online City Transit Guide/App HopStop has been snapped up by Apple. While technology giant Apple has confirmed the purchase, the company has declined to reveal any additional details including the transaction price.

One man who is smiling this week is HopStop Founder and Chairman – Nigerian Entrepreneur Chinedu Echeruo.
Chinedu has been on our BN radar for the past few years starting with a CNN feature after he launched HopStop in 2004. As we celebrate with Chinedu, we have come up with 5 lessons you can learn from this inspiring entrepreneur!

1. Attempt to Fix a Problem…
When Chinedu first moved to New York City in 1995, it was pretty difficult for him to navigate the busy city with ease. This “problem” sparked the creation of HopStop a few years later. It’s a national pasttime to list Nigeria’s problems, consider creating something to fix one of them! It could be your million dollar ticket.

2. Evolve with Your Customers
Chinedu emphasized this as a key point in his recent interview with Black Enterprise online. Since it launched in 2004, HopStop has evolved as customers needs have changed. It’s comprehensive mobile application is one clear illustration of that.

3. Focus on What’s Best for the Business, Not You
Chinedu stepped down as CEO of HopStop in 2009 to make way for someone who was better suited to lead the company towards its goals and objectives. As entrepreneurs, it is easy to keep clinging on to “power”, know when to step aside. Our “long-serving” African presidents can certainly learn from this example. In his own words, “I Had to Check My Ego at the Door{Source – Inc Magazine}

4. Don’t be afraid to be a Serial Entrepreneur
Tripology.com is another company founded by Chinedu. Even if your last business was not successful, pick yourself up and try again.

5. Do Not Underestimate the value of a Good Education & Experience
Granted we cannot all graduate from Harvard Business School or work for major investment banks. However, the value of a solid education and experience will only enhance your entrepreneurial pursuits. “Before his entrepreneurial career, Mr. Echeruo was with AM Investment Partners, a USD $500 million volatility-driven convertible bond arbitrage hedge fund. Prior to completing his M.B.A., he spent several years in the Mergers and Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, financing and private equity transactions. He holds an M.B.A. from the Harvard Business School and B.S in Finance and Accounting (Honors) from Syracuse University.” {Source – WSJ}

Today, Chinedu Echeruo is a Partner/Head, Principal Investing at Constant Capital in Ghana.

Want to find out more about Chinedu? Watch this recent interview with Black Enterprise Online

30 Comments

  1. Kamal

    July 23, 2013 at 10:38 am

    Well Done! Proud of you bro!

  2. Kiky

    July 23, 2013 at 10:48 am

    Kudos to him, great lessons here

    geneafrique.com

  3. Product of public Education

    July 23, 2013 at 11:14 am

    Nice one

  4. Peaches

    July 23, 2013 at 11:53 am

    Well done Chinedu…please share some of your transaction pay wit a sis….:)

  5. Lizzie

    July 23, 2013 at 11:54 am

    Kudos bro… stories i love to hear.

  6. omoibo

    July 23, 2013 at 12:43 pm

    Kudos bro! Wishing you continued success in all your future endeavors….. Thanks BN for posting this.

  7. obitalk

    July 23, 2013 at 3:25 pm

    well done!

  8. www.myHairmyBeautyNigeria.com

    July 23, 2013 at 4:51 pm

    Very inspired by his story and this article. Well done BN!

  9. CONSTRUCTIVE CRITICISM

    July 23, 2013 at 5:00 pm

    Sooooooo proud of you…Well done!

  10. chizzy

    July 23, 2013 at 5:17 pm

    Kudos bro

  11. Mma

    July 23, 2013 at 6:18 pm

    Very useful advise.

    africansweetheart.blogspot.co.uk/

  12. Olulu

    July 23, 2013 at 6:21 pm

    hmmm, ……………….. “Don’t be afraid to be a Serial Entrepreneur”…………..” Even if your last business was not successful, pick yourself up and try again.”…………..enuff said!!!!

  13. Sisiekomi

    July 23, 2013 at 6:41 pm

    Well done! He is such an inspiration.

    sisiekomi.blogspot.com

  14. Goddess

    July 23, 2013 at 6:46 pm

    Reading this brought buckets of tears to my eyes. I used hopstop when i just moved to New york, still use it till this day and I cant believe that this app used by millions of people in nyc was started by a Nigerian! It just proves that we are unstoppable and the only thing stopping us is ourselves and the lack of belief in the impossible that God can do. May God bless and uplift this man and bless all of us too.

    • Kunbs

      July 24, 2013 at 9:29 am

      You took the words right out of my mouth….soo impressive!

  15. Latifah

    July 23, 2013 at 7:12 pm

    I was proud he was a Nigerian…though I never heard of Hopstop before now his Story his encouraging…Thanks for the tips

  16. Okechukwu Ofili

    July 23, 2013 at 8:50 pm

    Chinedu…no forget me o. Na me “ofilispeaks” your boy from that time =D

  17. hose-y

    July 23, 2013 at 11:27 pm

    Nice one. He even gave a TED talk youtube.com/watch?v=cZ8Kpk2FPCc

  18. X

    July 24, 2013 at 1:08 am

    @Ofilispeaks, you are cracking me up.
    Chinedu, make I take you home to meet my mama, as we dance away to Flavour’s Ada mma. Lol
    On a more serious note, kudos on your following through with your visions, and many more to come, I am sure.

    • Hajiya not

      July 25, 2013 at 3:40 am

      ada ada!!! so funny

      #dead

  19. yinkah

    July 24, 2013 at 8:46 am

    Absolute Genius…

  20. enkay

    July 24, 2013 at 9:09 pm

    Hmmm, if Google acquired Waze for $1B, Chinedu must be smiling like se-rious-ly to the banks … wia my celebs dem when dey pose with ordinary 350GBP green bottles? instagramming pics of themselves with a carefully tossed smattering of some thousands half inch wads of $$s, and telling us that the ‘suits’ work for them? Well here’s one of the suits, signed, sealed, and delivered! You inspire us Chinedu, keep on rolling!

  21. Adams Ede

    July 24, 2013 at 10:09 pm

    Well done Sir. Well done.

  22. wedding planner

    July 25, 2013 at 1:49 pm

    Chinedu, if u never marry, pls buy our favors when u r ready. Same goes for ofili. expensiveweddingfavors.com

  23. HaroldWrites

    July 25, 2013 at 2:23 pm

    Ah ah, no be Chi Chi my guy be this? !!!! So Chi chi don hammer! Thank God say him bin take my advice that time! See, if anybody want million dollar idea, make him halla me. I go yarn you how far free of charge.

    • Gbedusky

      July 25, 2013 at 5:27 pm

      LMAO!

  24. Ada

    July 25, 2013 at 10:17 pm

    Nigerians doing great things!

  25. Suhaib

    July 26, 2013 at 7:05 am

    Well done, Chinedu.

    It’s amazing how Nigerians are making great impact abroad… but at home? Nah… the economic, political, and social climate is unfavorable for them.

    And that’s a shame.

  26. segun

    July 27, 2013 at 8:14 pm

    The guy is a smart guy and he is also involve in lot of other things.

  27. Okey

    January 12, 2014 at 2:14 pm

    Great news. All hope is not lost in Nigeria after all! Congratulations Chinedu

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